If you’re involved in the valuation of commercial real estate, it’s crucial to know how the terms of a lease affect value. This NEW seminar goes beyond methodology to explore how to measure a property rights adjustment, the theory underlying the use of a leasehold yield rate (YLH) to value the leasehold, as well as the application of a property rights adjustment in all three approaches to value.

Topics include:
• How the terms of a tenant’s lease impact value—either positively or negatively
• Situations that require a valuation of a leasehold
• Methodologies in valuing a leasehold, including examples and exercises
• The impact of a leasehold in the valuation of property using all applicable approaches
• Challenges facing appraisers performing leasehold valuation assignments

Equipment

HP-12C calculator, or other financial calculator. Note that keystrokes will be shown using HP-12C.

For Further Reading

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The Appraisal of Real Estate, 14th ed.

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The Dictionary of Real Estate Appraisal, 6th ed.

Disclaimer

Cancellation Policy

Up To 15 days prior to program start date, refund in full.

7 - 14 days prior to program start date, $50.00 cancellation fee.

Less than 7 days prior to program start date, forfeit of payment.

Transfer Policy

Up To 15 days prior to program start date, no transfer fee.

7 - 14 days prior to program start date, $25.00 transfer fee.

Less than 7 days prior to program start date, no transfer allowed.

All cancellations must be submitted in writing. Confirmed students should not assume that cancellation has been granted until a confirmation has been received. Other Information If you have a disability and require accommodation, please notify the AI national office at least two weeks in advance and we will arrange for reasonable accommodations. We reserve the rights to cancel, limit, or reschedule the course and to change faculty assignments and facility locations at any time. Prospective students should confirm their registration before making any non-refundable airline reservations.

Program materials can be downloaded by the student.

Additional Information

Early registration ends 03/15/2019, save by registering early. Late registration starts 05/07/2019, fees increase after this date. This new seminar is being offered at the Northern Illinois University Outreach Center at Rockford. This is a state of the art facility that is well equipped and comfortable. Check-in will be from 8:00 a.m. to 8:30 a.m. Class will run from 8:30 a.m. to 4:30 p.m. In addition to the well stocked, snack buffet, lunch will be included on site for this seminar and is included in the price of the class. The facility is easily accessible from I-90/39 and there is ample on-site FREE parking. Avoid big city traffic and high parking fees! Modern hotel accommodations are readily available within one mile along Business Route 20.